Immediate payment not reflecting 24 hours later

I am extremely disappointed with Old Mutual’s handling of my so-called “immediate” payment, which I made several days ago. Despite choosing and paying for the immediate payment option due to the urgency of the transaction, the funds have still not reflected in the recipient’s Nedbank account — over 72 hours later.

I initially contacted Old Mutual directly before raising this complaint, but I was not taken seriously. Only after escalating through Hello Peter did I receive a generic response stating the payment is “still pending” and has been referred to Bidvest Bank for investigation — without any meaningful timeline or urgency.

Let me be very clear:

• This was not a normal EFT — it was an immediate payment meant to reflect within minutes, not days.
• This delay has caused serious disruption, as the funds were required to pay urgent bills and responsibilities.
• I expect accountability, regular updates, and an immediate resolution — not vague promises and passing the blame to third parties.
• 
  

Old Mutual must take full responsibility and not hide behind Bidvest Bank. As the account holder, my service is with Old Mutual, and I demand urgent action.

I also expect compensation for the service failure, any charges I incur due to this delay, and a full explanation as to why a system allows for “immediate payments” that take several days with zero urgency.

If this issue is not resolved immediately, I will escalate to the Ombudsman for Banking Services and lodge a formal dispute for service failure and financial damages.

Ref. [OLCMAN***7] (--OCM***7--) - REF: [OMFCM***]